Singapore's retail sales fall 1.2% in April
Singapore's retail sales fell 1.2 per cent on-year in April, missing forecasts and reversing a 2.8 per cent growth the month before. Most sectors saw a decline except for motor vehicles. Analysts say this is because demand fell after the concert boom seen in the first quarter of the year, and that tourists could be getting more cautious, especially with a strong Singapore dollar. Richa Mathew reports.
Singapore's retail sales fell 1.2 per cent on-year in April, missing forecasts and reversing a 2.8 per cent growth the month before. Most sectors saw a decline except for motor vehicles. Analysts say this is because demand fell after the concert boom seen in the first quarter of the year, and that tourists could be getting more cautious, especially with a strong Singapore dollar. Richa Mathew reports.
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